Hyman Minsky Quotes

“Stability leads to instability. The more stable things become and the longer things are stable, the more unstable they will be when the crisis hits.”

“Unless we understand what it is that leads to economic and financial instability, we cannot prescribe – make policy – to modify or eliminate it. Identifying a phenomenon is not enough; we need a theory that makes instability a normal result in our economy and gives us handles to control it.”

“Success breeds a disregard of the possibility of failure.”